11,041 Shares in CorMedix Inc $CRMD Purchased by Corton Capital Inc.

Corton Capital Inc. acquired a new position in CorMedix Inc (NASDAQ:CRMD) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 11,041 shares of the company’s stock, valued at approximately $136,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRMD. SBI Securities Co. Ltd. increased its stake in shares of CorMedix by 699.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 8,685 shares of the company’s stock worth $54,000 after purchasing an additional 7,599 shares during the last quarter. USA Financial Formulas bought a new position in CorMedix during the second quarter valued at $55,000. EntryPoint Capital LLC bought a new position in CorMedix during the first quarter valued at $66,000. KLP Kapitalforvaltning AS purchased a new stake in CorMedix in the first quarter worth $72,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of CorMedix in the first quarter valued at $93,000. 34.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen downgraded CorMedix from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 11th. Royal Bank Of Canada restated an “outperform” rating and issued a $22.00 price objective (up from $21.00) on shares of CorMedix in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of CorMedix in a research report on Wednesday, October 8th. Zacks Research downgraded shares of CorMedix from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 6th. Finally, D Boral Capital upgraded shares of CorMedix from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, CorMedix currently has an average rating of “Buy” and an average price target of $18.83.

CorMedix Stock Down 1.0%

CRMD stock opened at $11.42 on Wednesday. The stock has a 50-day simple moving average of $11.84 and a two-hundred day simple moving average of $11.98. CorMedix Inc has a twelve month low of $5.60 and a twelve month high of $17.43. The firm has a market capitalization of $894.64 million, a PE ratio of 15.23 and a beta of 1.85.

CorMedix (NASDAQ:CRMD) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.08. The company had revenue of $39.74 million during the quarter, compared to analyst estimates of $29.88 million. CorMedix had a net margin of 42.11% and a return on equity of 42.73%. CorMedix’s revenue was up 4830.1% compared to the same quarter last year. During the same period last year, the business earned ($0.25) earnings per share. On average, equities research analysts anticipate that CorMedix Inc will post -0.32 EPS for the current fiscal year.

Insider Activity

In other news, Director Alan W. Dunton sold 10,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $13.13, for a total transaction of $131,300.00. Following the completion of the transaction, the director directly owned 40,250 shares in the company, valued at $528,482.50. The trade was a 19.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Myron Kaplan acquired 25,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was acquired at an average price of $11.02 per share, for a total transaction of $275,500.00. Following the transaction, the director directly owned 201,034 shares of the company’s stock, valued at $2,215,394.68. This represents a 14.20% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 163,997 shares of company stock worth $2,163,617. Company insiders own 5.30% of the company’s stock.

CorMedix Profile

CorMedix Inc, a biopharmaceutical company, focuses on developing and commercializing therapeutic products for the prevention and treatment of infectious and inflammatory diseases in the United States. Its lead product candidate is DefenCath, an antimicrobial catheter lock solution to reduce the incidence of catheter-related bloodstream infections in adult patients with kidney failure.